Business Today October 2018

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@businesstodaync

October 2018 Published monthly

YEARS

Business Intelligence for the Golden Crescent: Lake Norman • Cabarrus • University City

Pictured are Commissioner Kurt Naas, Former Commissioner Karen Bentley and Commissioner Jim Fuller

BY ERICA BATTEN North Mecklenburg town leaders say Charlotte-Mecklenburg Schools responded “in a retaliatory way” after Cornelius and Huntersville opted into HB-514, leaving open the possibility of opening municipal charter schools. CMS officials recently revealed that capital expenditures from the $922 million bond passed last year would go to towns that had opted out of HB-514. Both CMS and town officials must respond to the imminent need for new school buildings in northern Mecklenburg County. Huntersville currently has 5,000 new housing units approved

for construction; Davidson has 2,000. Hough High School is currently at 116 percent capacity. Charter schools are like businesses in that they meet the needs of the marketplace. The public system is built on the promise that the community will guarantee an education for every student. The Charlotte Mecklenburg School Board in August voted to redline Huntersville and Davidson—as well as Matthews and Mint Hill—by eliminating capital spending for new schools in those towns. “The challenges we’re facing now See Charter page 22

15 vie for Top Women Awards Fifteen successful women will be recognized Oct. 17 at the Top Women Awards, one of the oldest and largest events honoring women in Lake Norman and Cabarrus County. This year’s Top Women finalists are a diverse group, ranging from small business owners and entrepreneurs to distillers and brewers. Business Today’s Top Women awards have a 14-year-long history of recognizing excellence, leadership and giving back. This year’s stellar crop say being true to yourself, doing more than what’s called for, appreciating diversity and staying humble are some of the keys to success. Nominees and winners will be duly honored. They were asked to write about their philosophies, what motivates them and what defines See Top Women page 6 Page 20-21

Table of Contents I-77 Tolls

Page 2 News E

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Construction

Page 3 Cheryl Kane

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BT People

Page 4 Records

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19140 Peninsula Club Drive in Cornelius Top Women sold for $1,135,000

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While Hurricane Florence reached North Carolina during the week of Sept. 10, the extent of damage is still being calculated. Moody’s Analytics said Florence is among the 10 costliest hurricanes. Across the multiple states impacted by the storm, Moody’s estimates property damage between $17 billion and $22 billion, along with additional economic losses at $38 billion to $50 billion. Eastern North Carolina has endured two 500-year floods in two years. Agricultural losses in North Carolina alone total at least $1 billion. Jobless claims spiked by 12,000 to 214,000 in the week ended Sept. 22, according to Moody’s. Economists so far see a minimal impact to growth from Florence, which Moody’s says will subtract 0.2 percentage points from third-quarter GDP. The figures suggest that Hurricane Florence could be a more costly storm than Hurricane Matthew, which landed in North Carolina in October 2016 and cost the state $2.8 billion in damages and another $2 billion in lost economic activity.

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Economic damage from Florence still being measured

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